HyperLinq : Weekly Digital Asset Digest 40

Rohan Raman

The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access relevant news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!

IBM Files A Blockchain Patent For Fighting Package Theft By Drone : Joeri Cant | CoinTelegraph

IBM has filed for a patent of a system that uses blockchain technology to prevent drone-enabled package theft. According to a filing published by the United States Patent and Trademark Office on Nov. It might become ordinary for drones to be used for stealing packages in the future. The idea is that packages will be outfitted with an altitude sensor that is set to trigger an alarm if a significant altitude change is measured outside of the preset criteria. It’s like giving your Amazon packages a way to call SOS when something goes wrong en route to your house. IBM’s patent describes unattended delivery of packages that can leave items vulnerable to theft and other destructive behaviors after the package is delivered and before it is received. IBM filed a related patent in September for a system that would use blockchain technology to tackle privacy and security concerns regarding unmanned aerial vehicles, more commonly known as drones.

The SEC Has a New Chief Crypto Cop : Daniel Palmer | CoinDesk

Taking over from Robert A. Cohen, who left the post for a position in the private sector in August, Kristina Littman will be the agency's new chief of the Division of Enforcement’s Cyber Unit, according to an SEC announcement on Monday. Joining the SEC as a staff attorney in 2010, Littman rose in the ranks to become a senior advisor to SEC Chairman Jay Clayton in the summer of 2017. "She will be an excellent leader for the Cyber Unit as it continues its work in this critical and continually evolving area." The Cyber Unit was founded in 2017 as a way to tackle cybersecurity issues and protect investors against wayward members of the developing blockchain and crypto industry. Under Robert Cohen, the unit pursued actions against initial coin offerings the agency considered fraudulent. Cohen left the SEC for a partner position at corporate law firm Davis Polk & Wardwell LLP – a company that has represented crypto firms including Coinbase, as well as major financial institutions. With a J.D. and an M.B.A. from the School of Law at Rutgers University, Littman had practiced at a law firm specializing in corporate and securities litigation prior to joining the SEC.

Bitcoin ATM Firm Partners With Largest Shopping Mall Operator in US : Adrian Zmudzinski | CoinTelegraph

Miami-based Bitcoin automatic teller machines firm Bitstop has partnered with the largest shopping mall operator in the United States, Simon Malls, to install Bitcoin ATMs at several locations. BitStop announced on Nov. Bitsop, which claims to be licensed and regulated, plans to grow its teller machine network by over 500 locations by the end of 2020, according to Barnard. The new partnership builds on the firm’s previous installation of a Bitcoin ATM at the Miami International Airport, which it announced in mid-October. Data at the time showed that there were over 6,000 such machines worldwide, over 65% of which are in the United States. Still, authorities are increasingly wary of such services. The United States Internal Revenue Service’s Criminal Investigation Chief John Fort, for instance, recently said that the regulator is looking into potential tax issues caused by Bitcoin ATMs and kiosks.

Sri Lanka’s Central Bank Calls for Blockchain-Based KYC Proposals : Danny Nelson | CoinDesk

In an open call posted to its website Nov. 29, the bank announced that it is searching for tech companies who can build it a "proof of concept" shared KYC system for its banking industry. "The increasing demand for digitalised financial services has created an opportunity for Sri Lanka to evaluate the possibility of adopting Blockchain Technology to further advance Sri Lanka’s financial sector," the bank’s invitation to apply read. A "shared KYC" system as outlined by the press release would allow commercial banks and the central government to share and update customer data on a blockchain. "It is expected that this would facilitate several potential use-cases that will increase efficiencies in the financial sector," and "help increase financial inclusion in Sri Lanka," the release said. But the release is otherwise short on details. In October, it was removed from the Financial Action Task Force’s anti-money laundering/counter the financing of terrorism "strategic deficiencies" blacklist, indicating that the country had bolstered its defenses since placed on the list in Nov. 2017.

Indian Government to Issue National Blockchain Strategy : Ana Alexandre | CoinTelegraph

The Indian government is working on a national blockchain strategy in order to expand the technology’s adoption in the country. As the India Times reported on Nov. The Ministry added that it is working on the "National Level Blockchain Framework." The Minister of State for Human Resource Development, Communications and Electronics and IT, Sanjay Dhotre, noted blockchain’s capability and potential in sectors such as governance, banking, finance and cybersecurity, among others. Cointelegraph previously reported that the Indian state of Tamil Nadu was working on a state-level policy for blockchain technology and artificial intelligence. Earlier this year, the Southern Indian state of Telangana also released a draft blockchain policy initiative, which aimed to establish an ecosystem for blockchain startups and research institutes. The initiative reportedly has a particular focus on projects working to develop blockchain applications for the banking and financial sector, pharmaceuticals, logistics and solutions for government sectors. While India may be pro-blockchain, its stance toward cryptocurrencies is decidedly hostile.

Ghana May Issue Digital Currency in ‘Near Future,’ Says Central Bank Chief : Danny Nelson | CoinDesk

The governor of the West African nation’s central bank, Ernest Addison, said Tuesday that Ghana could issue a digital form of the nation's currency, the cedi, in the "near future" and is in talks to develop a pilot project in a "sandbox environment." Addison's remarks, made at Ghana’s Annual Banking Conference, were disclosed in a public transcript. The Bank of Ghana governor said Ghana is undergoing rapid digitization and has a burgeoning mobile banking sector driven by mobile phones. However, he said the mobile money would be different from cryptocurrency, according to Ghanaian news website MyJoyOnline. "It is just electronic money backed by currency," Addison reportedly said of the mobile money at the banking event’s press conference. CoinDesk has reached out to the Bank of Ghana for clarification and will update this article if we hear back. As has been widely reported, China's central bank is well on the way to launching its digital yuan, saying on Monday that it will initially be used to facilitate retail payments.

Kraken, One of Oldest Bitcoin Exchanges, Joins Silvergate Exchange Network : Helen Partz | CoinTelegraph

Kraken, one of the largest and oldest Bitcoin exchanges in the world, has joined the Silvergate Exchange Network . By joining SEN, the United States-based cryptocurrency exchange enables its clients to deposit and withdraw U.S. dollars from Silvergate accounts with no fees, the firm announced Nov. 27. If they have an account at Silvergate, Kraken users will simply have to enable SEN funding on their Kraken account before using the option. Those who do not have a Silvergate account will have to apply separately at bank. Silvergate Capital is a California-based commercial bank focused on digital currency businesses. As reported, Silvergate’s customers include crypto exchanges, miners and custodians, among others. The crypto-friendly bank saw its number of digital currency customers grow from 655 as of June 30, 2019 to 756 as of Sept. 30, 2019, as Silvergate stated in a filing with the U.S. Securities and Exchange Commission. In August 2019, the SEN added another important crypto partner, the Winklevoss brothers-founded exchange Gemini, enabling faster transfers in U.S. dollars.

Rohan Raman

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